Helping Hardworking Americans Improve Financial Stability
In recognition of EITC Awareness Day, Goodwill Industries International stands with our partners as we continue to ensure that all eligible families have the chance to keep more of the money they’ve earned and get the tax credits for which they qualify.
We partner with the Internal Revenue Service (IRS) to inform filers across the country about their eligibility for the Earned Income Tax Credit (EITC) and connect them with free tax assistance. Many of our local Goodwill® agencies are promoting EITC in their communities and operating Volunteer Income Tax Assistance (VITA) sites to provide free tax preparation services to workers and residents who qualify.
Goodwill’s mission is to help people find jobs and build their careers, and this commitment extends far beyond the paycheck. We also provide financial education so people can improve their economic stability for themselves and their families. Our support to promote the EITC naturally aligns with our focus on financial stability.
Enacted by Congress in 1975 to assist working families and individuals, the EITC is considered the second most effective anti-poverty measure in the United States. Of the 146 million U.S. taxpayers filing in 2012, 96 million reported adjusted gross incomes of $50,000 or less. Many of them were eligible for a number of tax credits that often go unclaimed. In fact, the IRS reports that one in five Americans are unaware that they qualify for EITC.
Goodwill is committed to helping hardworking Americans achieve financial success. That’s why we have partnered with National Disability Institute and United Way to expand free online tax preparation and filing assistance to those who qualify. Funded by the Walmart Foundation, MyFreeTaxes provides free federal and state tax preparation and filing assistance, both online and in person, to eligible households earning $58,000 or less in 2013. As the only free online platform that can be used for federal and state filing in all 50 states, including the District of Columbia, MyFreeTaxes has helped individuals and families claim more than $8 billion dollars in tax credits and refunds, nearly $1.5 billion in Earned Income Tax Credits and save more than $913 million in tax preparer fees since 2009.
By claiming these valuable tax credits, millions of hardworking Americans will be able to improve their financial stability and better care for their families. As a co-sponsor for this year’s EITC Awareness Day, we continue to join our partners to make sure each family has the chance the claim the credits they have earned.